We study the information aggregation properties of unanimous voting rules in the laboratory. In line with theoretical …

Information is a fundamental component of all financial transactions and markets, but it can arrive in multiple forms …. We define what is meant by hard and soft information and describe the relative advantages of each. Hard information is … quantitative, easy to store and transmit in impersonal ways, and its information content is independent of its collection. As …

This paper explores environments in which either the revelation or diffusion of information, or its incorporation into … methodology and for understanding the process by which stock prices incorporate information. Two environments are highlighted …. First, information is often not revealed in one announcement but rather through a process of gradual public revelation …

Using information on the sales of debt claims for 132 U.S. Chapter 11 bankruptcy cases, we show that large trade … pronounced for more opaque distressed firms, when trade creditors' information advantage is likely largest. This evidence shows … that suppliers that extend significant amounts of trade credit hold private information about their trade partners. Trade …

tariffs that are strictly below their bound rates. When private information is persistent through time, an enforcement …-optimal tariff, in order to conceal weakness. It also suggests a new information-based theory of gradualism in trade agreements …

Employment matches under uncertainty are typically accompanied by opportunities for information acquisition. Workers … can acquire specific information about productivity lotteries at the firm or general information affecting their … probabilistic beliefs about work elsewhere. Enterprises can acquire specific information concerning the productivity of a particular …